US-Based Silicon Road Ventures Joins Forces with Ajay Mahajan to Launch ₹150 Crore Agentic AI Fund for India
In a significant vote of confidence for India’s deep-tech ecosystem, Atlanta-headquartered Silicon Road Ventures (SRV) has partnered with former Bank of America India MD Ajay Mahajan to launch a ₹150 crore Alternative Investment Fund (AIF) dedicated exclusively to Agentic AI startups in the B2B commerce technology space .
The fund has received Category-II registration from SEBI, successfully achieved its first close, and has already commenced active deployment of capital .
🤖 What Is Agentic AI and Why It Matters
Unlike traditional AI tools that merely respond to commands, Agentic AI systems can reason, plan, and execute tasks autonomously . This marks a fundamental shift from AI as a passive tool to AI as an active agent managing complex business processes.
The fund will back early-stage startups building:
- Multi-channel commerce solutions for retailers, brands, manufacturers, and CPG companies
- Supply chain and logistics automation to improve operational efficiency
- B2B fintech products that streamline transactions
- Consumer insights platforms and retail operations technology
The emphasis on agentic AI reflects a growing recognition in the venture capital community that artificial intelligence is evolving beyond “AI-on-top” applications toward intelligent systems capable of managing end-to-end business workflows autonomously .
🌍 The US-India Bridge: A Strategic Advantage
A distinctive feature of this fund is its cross-border value proposition. Portfolio companies will not only receive capital but also gain:
- Access to the US market through strategic leadership support and infrastructure
- Connections to American investors and enterprise customers
- Market access guidance to help Indian startups scale globally
“The Fund will also provide access to the US market, via leadership, infrastructure, and funding, for technologies that are transferrable to that market.”
— Silicon Road Ventures official statement
This structure allows Indian startups to use their cost-effective engineering base while establishing a commercial foothold in the world’s largest enterprise software market—a model that has proven successful for B2B SaaS companies and is now being adapted for AI-first ventures .
👥 The Leadership Team
The fund brings together experienced operators from both the US and India:
| Leader | Role | Background |
|---|---|---|
| Sid Mookerji | Managing Partner, SRV Founder | Founded Software Paradigms International (acquired by Cognizant in 2018); also runs Silver Spirit Global Family Office with tech parks in US and India; established innovation funds with BITS Pilani and Kennesaw State University |
| Ajay Mahajan | Partner, India Investment Operations | 30+ years in banking & financial services; former Bank of America India MD; senior leadership at Yes Bank, UBS, IDFC; former MD & CEO of CARE Ratings |
| Ross Kimbel | Leadership Team | Formerly with The Coca-Cola Company’s venture arm |
| Frank Tighe | Leadership Team | Two-time entrepreneur with public market exit; former head of Georgia Tech’s incubator, ATDC |
SRV was founded in 2019 and has already backed over 30 startups across themes such as AI-led commerce, autonomous payments, retail media technology, warehouse automation, fraud prevention, and customer data platforms .
💡 Why This Matters for India’s AI Ecosystem
This fund launch carries several important signals for India’s startup landscape:
1. Global Capital Sees India as an AI Innovation Hub
The involvement of a US-based VC with CPG and enterprise limited partners (LPs) indicates that international investors view India as a source of world-class AI talent and scalable B2B solutions .
2. Agentic AI Is the Next Frontier
Investors are moving beyond general-purpose AI toward autonomous, task-executing systems that can transform enterprise operations. The fund’s focus on B2B commerce—supply chain, logistics, fintech, retail operations—targets sectors with high automation potential and clear ROI .
3. Early-Stage Focus Strengthens the Pipeline
By targeting Seed and Series A startups, the fund addresses a critical gap in India’s deep-tech funding landscape. Early-stage ventures building foundational IP often require patient capital and strategic guidance—precisely what this fund offers .
4. Cross-Border Expansion Is Accelerating
The fund’s explicit mandate to help Indian startups expand into the US market reflects a broader trend: Indian AI founders are increasingly building for global markets from day one .
🔮 The Road Ahead
With the fund already active and deploying capital, SRV is currently evaluating investment opportunities. The firm typically leads Seed and Series A rounds and continues to back portfolio companies through follow-on investments .
The launch comes amid a broader surge in AI-focused venture capital in India. Sarvam AI is reportedly raising a $300 million round led by HCLTech at a $1.5 billion valuation, and Zepto has received SEBI approval for its landmark IPO. The momentum in India’s AI ecosystem appears to be accelerating rather than slowing.
For founders building agentic AI solutions for B2B commerce, the message is clear: specialised capital with cross-border capabilities is now available. The next 12-24 months will likely see a wave of agentic AI startups emerging from India, targeting global enterprise customers across retail, supply chain, and fintech.
For more updates on India’s AI ecosystem, startup funding, and deep-tech innovation, keep it locked on StartupPoint.in.
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